Mediolanum International Funds Ltd Increases Holdings in Everest Group, Ltd. (NYSE:EG)

Mediolanum International Funds Ltd increased its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 25.1% in the third quarter, Holdings Channel reports. The firm owned 23,440 shares of the company’s stock after acquiring an additional 4,702 shares during the period. Mediolanum International Funds Ltd’s holdings in Everest Group were worth $9,247,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in EG. American National Bank purchased a new stake in Everest Group during the 2nd quarter worth $27,000. M&R Capital Management Inc. purchased a new stake in Everest Group during the 3rd quarter worth $29,000. Bruce G. Allen Investments LLC boosted its position in Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares during the period. Eastern Bank purchased a new stake in Everest Group during the 3rd quarter worth $35,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after purchasing an additional 31 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Performance

Shares of Everest Group stock opened at $379.55 on Friday. The firm has a market cap of $16.49 billion, a PE ratio of 5.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. The firm’s 50-day simple moving average is $387.31 and its 200-day simple moving average is $380.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a 1 year low of $343.76 and a 1 year high of $417.92.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted $15.21 EPS. Equities analysts forecast that Everest Group, Ltd. will post 60.97 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were issued a $2.00 dividend. The ex-dividend date was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.11%. Everest Group’s dividend payout ratio is currently 11.89%.

Analyst Upgrades and Downgrades

EG has been the subject of a number of analyst reports. BMO Capital Markets reissued a “market perform” rating and issued a $403.00 price objective on shares of Everest Group in a research report on Friday, August 30th. Bank of America decreased their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. TD Cowen decreased their price objective on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Barclays initiated coverage on shares of Everest Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and an average target price of $439.27.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.